Home News inflation rate in the Netherlands stood at 4.4 percent in March 2023

inflation rate in the Netherlands stood at 4.4 percent in March 2023

Statistics Netherlands (CBS) reports in a flash estimate that the CPI-measured inflation rate stood at 4.4 percent in March. The flash estimate was calculated on the basis of still incomplete source data. In February, consumer goods and services were 8.0 percent more expensive than one year previously. The regular consumer price index figures will be published on 13 April.
An inflation rate of 4.4 percent in March 2023 means that prices of consumer products were on average 4.4 percent higher than in March 2022. The 4.4-percent inflation rate is therefore not on top of the 8.0-percent inflation of February.

Price development of product groups

In addition to the CPI inflation rate, CBS also publishes the price development of a number of product groups as part of its flash estimate. These product groups are aggregations of expenditure categories on a particular theme, such as all services. The price development of all categories in the CPI is published on 13 April.

New energy price measurement method

As from reporting month June 2023, in which the flash estimate will be published on 30 June, CBS will employ a new method to measure energy prices in the CPI. Under the current method, the price development of energy is measured on the basis of new energy contracts. The new method uses transaction data provided by energy suppliers, so that the tariffs paid under long-standing energy contracts can also be taken into account. This will result in a more accurate inflation rate. On 2 March, CBS published an update on its research into the new method of measuring energy prices.

Source: Statistics Netherlands (CBS)
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